Analysts Set Exact Sciences Co. (NASDAQ:EXAS) PT at $97.44

Shares of Exact Sciences Co. (NASDAQ:EXAS) have received an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $95.40.

Several research analysts have recently weighed in on EXAS shares. Canaccord Genuity Group decreased their price target on Exact Sciences from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday. BTIG Research decreased their target price on Exact Sciences from $85.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday. TheStreet downgraded shares of Exact Sciences from a “c-” rating to a “d+” rating in a report on Monday, February 26th. William Blair reissued an “outperform” rating on shares of Exact Sciences in a report on Thursday, February 22nd. Finally, Citigroup dropped their target price on shares of Exact Sciences from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday.

Insider Buying and Selling at Exact Sciences

In other news, EVP Sarah Condella sold 965 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $61.43, for a total value of $59,279.95. Following the transaction, the executive vice president now owns 70,489 shares of the company’s stock, valued at $4,330,139.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Sarah Condella sold 965 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total value of $59,279.95. Following the completion of the sale, the executive vice president now directly owns 70,489 shares of the company’s stock, valued at approximately $4,330,139.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel James Herriott sold 421 shares of Exact Sciences stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $61.43, for a total transaction of $25,862.03. Following the transaction, the general counsel now directly owns 6,494 shares in the company, valued at approximately $398,926.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,611 shares of company stock valued at $4,255,377. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Exact Sciences

A number of institutional investors have recently bought and sold shares of EXAS. AQR Capital Management LLC grew its position in shares of Exact Sciences by 172.0% during the third quarter. AQR Capital Management LLC now owns 328,317 shares of the medical research company’s stock worth $22,398,000 after purchasing an additional 207,623 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Exact Sciences by 1.6% during the 3rd quarter. Nordea Investment Management AB now owns 18,858 shares of the medical research company’s stock valued at $1,310,000 after purchasing an additional 293 shares during the last quarter. New York Life Investment Management LLC raised its holdings in Exact Sciences by 5.0% during the 4th quarter. New York Life Investment Management LLC now owns 21,106 shares of the medical research company’s stock valued at $1,561,000 after buying an additional 1,014 shares during the period. Artisan Partners Limited Partnership lifted its position in Exact Sciences by 11.8% in the third quarter. Artisan Partners Limited Partnership now owns 3,961,514 shares of the medical research company’s stock worth $270,254,000 after buying an additional 418,770 shares during the last quarter. Finally, Aviva PLC boosted its stake in Exact Sciences by 383.0% during the third quarter. Aviva PLC now owns 107,054 shares of the medical research company’s stock worth $7,303,000 after buying an additional 84,888 shares during the period. Hedge funds and other institutional investors own 88.82% of the company’s stock.

Exact Sciences Stock Down 9.0 %

NASDAQ:EXAS opened at $54.15 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.07 and a current ratio of 2.32. The firm has a market cap of $9.96 billion, a P/E ratio of -47.50 and a beta of 1.26. Exact Sciences has a fifty-two week low of $52.25 and a fifty-two week high of $100.77. The firm has a 50-day simple moving average of $63.58 and a two-hundred day simple moving average of $64.58.

Exact Sciences (NASDAQ:EXAS) last posted its quarterly earnings results on Wednesday, February 21st. The medical research company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.26. Exact Sciences had a negative net margin of 8.17% and a negative return on equity of 6.60%. The firm had revenue of $646.89 million for the quarter, compared to analysts’ expectations of $638.83 million. During the same quarter in the prior year, the company posted ($0.72) earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. Analysts predict that Exact Sciences will post -0.86 earnings per share for the current fiscal year.

About Exact Sciences

Exact Sciences Corporation provides cancer screening and diagnostic test products in the United States and internationally. The company offers Cologuard, a non-invasive stool-based DNA screening test to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. It also provides Oncotype DX Breast Recurrence Score Test; Oncotype DX Breast DCIS Score Test; Oncotype DX Colon Recurrence Score Test; OncoExTra Test for tumor profiling for patients with advanced, metastatic, refractory, relapsed, or recurrent cancer; and Covid-19 testing services.